When your father is a man of expensive tastes and schemes but very little money, you soon learn to make do. So when Captain Fortune, a well-meaning but profligate ex-soldier in Regency England, tells his daughter Caroline that they are ruined, she automatically starts seeking employment as a governess. Her father, however, has far grander designs for Miss Fortune...

Caro is to become the companion of Mrs. Catling, the rich, fierce widow of her father's old colonel. As Mrs. Catling amuses herself by tormenting her relatives and servants, Caro resolves to make the best of the situation, and soon her beauty and intelligence attract the attentions of male admirers.

Surrounded by people with an alarming readiness to reveal each other's confidences, Caroline is exasperated to find herself implicated in their indiscretions. But will Miss Fortune be able to avoid losing her reputation without losing her head? And will she find at least one good man amongst the genteel set who will take her side, and, indeed, her fancy?